In a strategic move to dominate Peru’s expanding telecommunications sector, América Móvil, controlled by Mexican billionaire Carlos Slim, has agreed to acquire 100% of the shares in WOW Perú. Founded in 2020, WOW Perú specializes in high-speed fiber-optic fixed internet services and has rapidly established itself as a significant market player. While the parties involved have undisclosed the financial details of the transaction, the acquisition marks a major consolidation in the regional telecommunications landscape.
The deal will be executed through América Móvil Perú, which is purchasing all equity holdings currently owned by Liberty Latin America and its investment partner, Narvik Capital Partners. Liberty Latin America originally acquired a minority stake in WOW Perú in 2021 and subsequently funded several capital injections to support its growth. However, the divestment aligns with the company’s efforts to streamline operations and reallocate capital to core priority areas.
By bringing WOW Perú under its banner, América Móvil will significantly enhance the coverage and service capabilities of its primary operating brand in the region, Claro. Already a dominant force in Peruvian mobile telecommunications, Claro stands to gain substantial ground in the convergent fixed-services market.
Prior to the deal, WOW Perú held a 12.2% share of the national fixed internet market, claiming the top position for fiber-optic connections across 14 provinces. Combining these assets will boost Claro’s overall market share from 26.7% to 38.9%, firmly solidifying its position as the market leader in Peru’s fixed internet segment.
The completion of the acquisition remains subject to regulatory review and approval by Peru’s antitrust authority, Indecopi.